0650 GMT - Cochlear's bulls at Jefferies think the stock looks cheap given the market-share gains likely to follow the launch of its new hearing-implant system. They look past the short-term hit of downgraded profit expectations for the current fiscal year to highlight the potential benefits of the new system. They tell clients in a note that they had only expected two new products, so a system containing three is a positive. They say Cochlear's medium-term outlook is now stronger than previously assumed, with the new system's tech capability likely to resonate with surgeons. Jefferies lifts its target price 1.0% to A$3.11 and keeps a buy rating on the stock, which closed 0.7% higher at A$272.31. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 12, 2025 02:50 ET (06:50 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.